As discounting shows little sign of abating, it's the stores with on-trend merchandise that will emerge as the season's winners.» Read More
"The consumer is being picky, so as an investor we need to be picky as well," Fidelity's Peter Dixon says.
H&M, the world's second-largest fashion retailer, posted a bigger than expected drop in second-quarter earnings.
While the economic data show a recovery in place, it doesn't seem as if the message has gotten through to retailers serving lower- and middle-income consumers.
European shares closed lower on Wednesday, mirroring losses in U.S. markets.
A Bangladesh factory where Wal-Mart Stores and Inditex inspectors spotted cracks in the wall this month is still making Wrangler shirts for the world's largest apparel maker, U.S.-based VF Corp.
The world's two biggest fashion retailers backed an accord aimed at preventing a repeat of last month's collapse of a Bangladesh factory building.
H&M, the world's second-biggest fashion retailer, posted a slightly bigger drop than expected in first quarter pretax earnings.
Zara owner Inditex posted a 22 percent rise in 2012 profit to 2.4 billion euros ($3.13 billion) on Wednesday, shrugging off belt-tightening in home market Spain by tapping fashion-hungry consumers in markets like Asia.
Spain's IBEX 35 Index may have been a laggard last year with a drop of 6 percent but since the announcement of the European Central Bank's bond-buying plan investors have returned to the country and the index has climbed 14 percent.
European shares closed higher on Wednesday ahead of a Federal Reserve meeting in the U.S., with investors expecting an announcement on a new treasury purchase plan.
Spain's Zara owner Inditex continued to buck the pain in austerity-wracked Europe on Wednesday, posting nine-month net profit up 27 percent at 1.65 billion euros through its aggressive store-opening program around the world.
Millions of Chinese shoppers are turning to the web, fueling a booming $64 billion e-commerce market, as a local player gets set to overtake Amazon as the world's biggest online retailer by 2016.
The National Statistics Institute said Friday that 85,000 more people joined the ranks of the unemployed between July and September, raising the total to 5.78 million. Spain is under pressure to ask for outside aid to help deal with its debts.
HONG KONG, Oct 24- Hong Kong shares posted a fresh 2012 closing high on Wednesday, buoyed by expectations of more capital inflows into the territory after its de facto central bank moved to weaken the Hong Kong dollar for the fourth time in less than a week.
HONG KONG, Oct 24- Mainland Chinese shares rose on Wednesday, outperforming most Asian peers and lifting the Hong Kong market to just short of a year-high after a survey of purchasing managers showed China's economy making a steady recovery. The China Enterprises Index of the top Chinese listings in Hong Kong was down 0.4 percent.
ZURICH, Oct 7- Investors are preparing a takeover offer for loss-making Swiss clothing chain Charles Voegele, a newspaper reported on Sunday. The interested part was a retailer from Southern Europe with international ambitions, Der Sonntag said, citing sources close to investors.
LONDON, Oct 5- London's Oxford Street, one of world's busiest shopping strips, is suffering from flat-lining demand, signalling that the global economic gloom has spread to leading retail areas.
Oct 4- Li& Fung Ltd, a global supplier of apparel, is in advanced talks to buy Synergies Worldwide, a small, New York- based supplier, a source familiar with the matter said on Thursday. The move would help Hong Kong- based Li& Fung gain a better foothold in the fast fashion and discount clothing space.
MADRID, Oct 3- Spain's corporate tax take has tumbled by almost two thirds from pre-crisis levels as small businesses fail and a growing number of big corporations seek profits abroad to compensate for the prolonged downturn at home.
A string of earnings downgrades from European autos and the sector's recent underperformance could open up a cheap entry point for investors, reckons Fabio Di Giansante, senior portfolio manager at Pioneer Funds.